SFGTV2: San Francisco Government Television
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Jul 17, 2010
07/10
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that is more than our deficit. many of you may have read and followed some of the measures passed by the state legislature that would direct $400 million statewide immediately to transit. the sfmta share of that would be about $36 million. it would also enact a complicated gas tax scheme that would begin to give us ongoing revenue sources again in the second year of the budget. last week, the governor sent a letter to the state pro tem saying he did not like various portions of it and was planning to veto it. he has not vetoed it yet. he has until this monday to make a decision. the legislature is taking some actions to address some of his concerns and other areas. we're not counting on that revenue but we're working to advocate for it. we've been sending letters. the mayor has been working on it. the board of supervisors unanimously passed a resolution urging passage of the bills. monday it will be a big day. it will either be a day of serious disappointment or a glimmer of hope from sacramento. i wanted to update
that is more than our deficit. many of you may have read and followed some of the measures passed by the state legislature that would direct $400 million statewide immediately to transit. the sfmta share of that would be about $36 million. it would also enact a complicated gas tax scheme that would begin to give us ongoing revenue sources again in the second year of the budget. last week, the governor sent a letter to the state pro tem saying he did not like various portions of it and was...
SFGTV2: San Francisco Government Television
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May 4, 2011
05/11
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next year, we are going to have a $480 million deficit in the $642 million deficit the following year. those numbers can be corrected, we are working on correcting them, but a means will have to take some pro-active steps to address the growth. a thing that is the big picture. i am happy to answer questions later on if it is useful. >> that was a brief overview of the budget. every line every piece of it is complicated. it is about 10:40, so we will do department conversations for 20 minutes. >> thank all of you for being here this morning. the mayor made some very clear statements, and i want to tell you that we're here to support them. the basic function of local government as public safety. when i came to the city, how committed to do everything we could to make san francisco the safest city in the country and we will continue to do so. we also recognize that there are tremendous and her budget shortages and there is a lot that needs to be taken care of. we're moving to try to make the office more efficient. we are about $39 million of the total. the primary goals will be public sa
next year, we are going to have a $480 million deficit in the $642 million deficit the following year. those numbers can be corrected, we are working on correcting them, but a means will have to take some pro-active steps to address the growth. a thing that is the big picture. i am happy to answer questions later on if it is useful. >> that was a brief overview of the budget. every line every piece of it is complicated. it is about 10:40, so we will do department conversations for 20...
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May 14, 2020
05/20
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roughly $41.2 billion is the projected deficit. that assumes no increase case load, no increase cost and expenses to help the most vulnerable californiaens. one cannot assume that and as the consequence, we add roughly $13 billion to that total, $13.1 billion to be exact thus the total budget projected for the current fiscal year and budget year $54.3 billion. it is not the economic consequences and the personal and professional consequences, those unemployment numbers certainly are but the budgets numbers are not in this respect. not only do we come in more fiscal -- with more fiscal health than in the past into this recession with more ample reserves and more capacity for deferrals, the ability to borrow where it's appropriate under these circumstances, but also we come in with a substantially large fund than we have seen in the past. just to put it in statistical returns and called conferment for those watching. roughly 45% was the budget short fall in 2003, 58% in 2009, 58% in 2009. you may recall that 2009 budget deficit came
roughly $41.2 billion is the projected deficit. that assumes no increase case load, no increase cost and expenses to help the most vulnerable californiaens. one cannot assume that and as the consequence, we add roughly $13 billion to that total, $13.1 billion to be exact thus the total budget projected for the current fiscal year and budget year $54.3 billion. it is not the economic consequences and the personal and professional consequences, those unemployment numbers certainly are but the...
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Jun 7, 2009
06/09
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. >> first, what is the situation with the budget deficit? how much are you looking at and how do you cut costs? >> we've been trying to close the gap on a growing budget deficit over the last number of months, back in february there was a budget passed that tried to close the budget gap. it also increased taxes for a short duration of time and then went to the voters to ask them fef they wanted to extend that amount of time. and of course the voters turned that down. and as a result of that, and the ongoing deficit, less revenues coming in, we are currently now looking at a deficit here in the next 12, 13 months as somewhere around $22 billion. it's a staggering number even for a state as large as california. >> the governor has proposed a flat tax, possibly 15% across the board. your reaction? >> well, i think simplifying the tax system is a great idea. i think that trying to bring everybody on board, trying to make sure it's an understandable tax system is certainly one that i think we ought to look at. my concern wher we talk about changi
. >> first, what is the situation with the budget deficit? how much are you looking at and how do you cut costs? >> we've been trying to close the gap on a growing budget deficit over the last number of months, back in february there was a budget passed that tried to close the budget gap. it also increased taxes for a short duration of time and then went to the voters to ask them fef they wanted to extend that amount of time. and of course the voters turned that down. and as a...
WHUT (Howard University Television)
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Jan 16, 2011
01/11
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account deficit comes down. that means the u.s. is depending less on foreigners. >> does it make sense to say any tax cut does not have to be matched by any savings? >> absolutely not. that is an ideological condition that is correct -- incorrect. $1 of tax reduction has the same affect on the deficit as spending increases. >> a wake-up call for a complacent [unintelligible] this book made waves by denouncing western aid to africa. now they warn irrational investment could turn the u.s. into a second division socialist state. >> only one possible future offers much hope. the west [unintelligible] the eve merging economies like china -- emerging economies like china. in that case we lose the economic war. second possibility, tschida falters. in this scenario they still maintain the 10% annual growth needed to overtake america. and the west stays dominant by default. third, america fights back. we direct vast sums into new technologies and better education. but all this requires money bad americans squandered alre
account deficit comes down. that means the u.s. is depending less on foreigners. >> does it make sense to say any tax cut does not have to be matched by any savings? >> absolutely not. that is an ideological condition that is correct -- incorrect. $1 of tax reduction has the same affect on the deficit as spending increases. >> a wake-up call for a complacent [unintelligible] this book made waves by denouncing western aid to africa. now they warn irrational investment could...
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Jul 5, 2009
07/09
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the president has vowed to make this a deficit-neutral package, how did not add to the deficit, can you see this dynamic going on here? >> there are many different experts in the health-care arena, as you well know, and there are widely differing estimates on what share of the uninsured would be different -- would be covered at differing levels of cost. at this estimate withhis particular plan, we had a cost figure that was relatively lower than what some of the other cost figures were and a coverage number that was relatively lower. but as i say, that was as of this plan that they were describing. call it the middle or the beginning, it is certainly not the end of the process. you have both houses of congress as well as the president and private-sector all trying to come together and put together a package that will comprehensively change both the cost pasth of health care and also get more people covered. there is no question that the president is concerned and wants to get the coverage numbers up. i do not think there is any dispute about that. he is committed to doing that in a defi
the president has vowed to make this a deficit-neutral package, how did not add to the deficit, can you see this dynamic going on here? >> there are many different experts in the health-care arena, as you well know, and there are widely differing estimates on what share of the uninsured would be different -- would be covered at differing levels of cost. at this estimate withhis particular plan, we had a cost figure that was relatively lower than what some of the other cost figures were...
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2.0
Mar 8, 2021
03/21
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the republicans never complained about the deficit when it was for tax breaks. they never complained about the deficit when it's rich white men 65 and older working in congress. there is no complaints from congress when they want to spend money that way, but once the democrats spend money, every republican in the house and senate is all about the deficit. where is the trickle-down effect -- trickle-down effect from the first to trillion dollars tax break they gave business? what about amazon and walmart? they can afford to raise minimal wage of $15 an hour. the tax break they got under trump would cover any increase in minimum wage. why are people complaining about $15 or handing the american people $1400 in a time of need? they need that five or $10 million they collected but they didn't complain about it. that's hypocrisy at its best. host: let's hear from chris in reston, virginia. caller: good morning. the previous caller took my line. the republicans never complained about tax cuts for the rich which never benefited the economy. but when it goes to the peop
the republicans never complained about the deficit when it was for tax breaks. they never complained about the deficit when it's rich white men 65 and older working in congress. there is no complaints from congress when they want to spend money that way, but once the democrats spend money, every republican in the house and senate is all about the deficit. where is the trickle-down effect -- trickle-down effect from the first to trillion dollars tax break they gave business? what about amazon...
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Sep 28, 2017
09/17
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there's a $5 trillion hole in the deficit. the democrats think that it should go to the middle class. we believe that small businesses should get some kind of tax break, we could look at this. even three who didn't sign the bill are going to look at this and have problems with it. >> there was language making sure that the passthrough rate didn't apply to the wealthy. do you take that at face value and-- >> not in their plan. not in their plan. so you're a big hedge fund or fancy law firm. you'll pay no corporate tax and instead of individual rate of 39.6 or-- you play 25. it's a dramatic huge tax break for the wealthiest, middle class people can't take advantage of this. >> leader can i-- >> please, please. >> let me tell you what's happened in the committee, the finance committee. we began pointing out the inequity of the passthrough provision months and months ago. we were told by the secretary treasury. it would be corrected. it's been months since they said it would be corrected. that's the first thing that i looked at to
there's a $5 trillion hole in the deficit. the democrats think that it should go to the middle class. we believe that small businesses should get some kind of tax break, we could look at this. even three who didn't sign the bill are going to look at this and have problems with it. >> there was language making sure that the passthrough rate didn't apply to the wealthy. do you take that at face value and-- >> not in their plan. not in their plan. so you're a big hedge fund or fancy...
SFGTV: San Francisco Government Television
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Apr 12, 2011
04/11
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we have a serious budget deficits. we have a mandate to create jobs for the people of san francisco. it is our responsibility to keep the city beautiful and livable for all people of all incomes and in all neighborhoods. whatever it takes to accomplish these goals, sessions like this question time or town hall meetings in your district, i'm eager to show up for those discussions. with that said, i appreciate the thoughtful questions you sent last week. i look forward to this discussion. president chiu: thank you, mr. mayor. for our first question, i will call on our supervisor from district 1. supervisor mar: thank you for your leadership. what policies the recommend for a citywide from work or all of our -- where we get advantages for community benefits. additionally, how will you ensure the greatest possible community participation and engagement in the creation of a community benefits agreement in the mid market area and any other community are realized? mayor lee: thank you for that question. we have a variety of d
we have a serious budget deficits. we have a mandate to create jobs for the people of san francisco. it is our responsibility to keep the city beautiful and livable for all people of all incomes and in all neighborhoods. whatever it takes to accomplish these goals, sessions like this question time or town hall meetings in your district, i'm eager to show up for those discussions. with that said, i appreciate the thoughtful questions you sent last week. i look forward to this discussion....
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May 2, 2018
05/18
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CSPAN3
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in our projections, budget deficits continue increasing after 2018 as deficits accumulate, debt held by the public rises from 78% of gdp or $16 trillion at the end of this year to 96% of gdp or $29 trillion by 2028. that percentage would be the largest since 1946 and well more than twice the average over the past five decades. for the next few years, revenues hover near the level of 16.6% of gdp in our projections. then they rise steadily reaching 17.5% of gdp by 2025. at the end of that year, many provisions of the 2017 tax act will expire causing receipts to rise sharply to 18.1% of gdp in 2026, and 18.5% in 2027, and 2028. they have averaged 17.4% of gdp over the past 50 years. in our projections outlays for the next three years remain near 21% of gdp this is higher than the average of 23.4% over the past 50 years. after that outlays grow more quickly than the economy does. that increase reflects significant growth in mandatory spending mainly because of the aging population and rising health care costs per beneficiary are projected to increase spending for social security and med
in our projections, budget deficits continue increasing after 2018 as deficits accumulate, debt held by the public rises from 78% of gdp or $16 trillion at the end of this year to 96% of gdp or $29 trillion by 2028. that percentage would be the largest since 1946 and well more than twice the average over the past five decades. for the next few years, revenues hover near the level of 16.6% of gdp in our projections. then they rise steadily reaching 17.5% of gdp by 2025. at the end of that year,...
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Sep 27, 2017
09/17
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CSPAN3
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this is a $5 trillion hole in the deficit. the three democrats i believe think tax should go to the middle class. there are things that we could agree on. we believe small business should get some kind of tax break. we could look at that but i believe even the three democrats who didn't sign this bill are going to look at this plan and have a lot of problems with it. >> there was some language about making sure in the committees that the pass-through rate didn't apply to the wealthy. do you take that at face value? >> it's not in their plan. it's not in their plan. here's the amazing thing. if you are a hedge fund or a fancy law firm you will pay no corporate tax. and instead of paying an individual rate of 39.6, or 35. you pay 25. it is a dramatic huge trillion dollar tax break for the wealthiest. for the wealthiest. middle class people can't take advantage of this. >> peter, can i add on top of that. >> yes, please. >> let me tell you what happened in the finance committee. we began pointing out the inhe can of this pass-thr
this is a $5 trillion hole in the deficit. the three democrats i believe think tax should go to the middle class. there are things that we could agree on. we believe small business should get some kind of tax break. we could look at that but i believe even the three democrats who didn't sign this bill are going to look at this plan and have a lot of problems with it. >> there was some language about making sure in the committees that the pass-through rate didn't apply to the wealthy. do...
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Sep 27, 2017
09/17
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not increasing the deficit. this is a $5 trillion hole in the deficit. the three democrats i believe think tax should go to the did middle class. there are things we could agree on. we believe small business should tax break. d of we could look at that. but i believe even the three democrats who didn't sign this bill are going to look at this plan and have a lot of problems with it. tax break. we could look at that. but i believe >> what's the language about making sure the top rate didn't apply to the wealthy? do you take that at face value? senator schumer: not in their plan. are you a big hedge fund or fancy law firm, you'll pay no corporate tax. then instead of paying an individual rate of 39 or this plan, 35. you play 25. it's a dramatic huge trillion dollar tax break for the wealthiest. middle class people can't take advantage of this. senator wyden: let me tell you what's happened in the finance committee. we began pointing out the inequity of this pass-through provision months and months ago. we were told by the secretary of treasury that it woul
not increasing the deficit. this is a $5 trillion hole in the deficit. the three democrats i believe think tax should go to the did middle class. there are things we could agree on. we believe small business should tax break. d of we could look at that. but i believe even the three democrats who didn't sign this bill are going to look at this plan and have a lot of problems with it. tax break. we could look at that. but i believe >> what's the language about making sure the top rate...
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Nov 3, 2017
11/17
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eye 13
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do not increase the deficit. holetax bill lows a huge to the deficit. and third, work with us, do not use reconciliation. even the three who did not vote for it -- it did not sign our letter agree with those three principles. this is very far -- just listen to what they say about it. >> i went with the five democrats to the white house about 10 days ago. they were the five democrats up for election in 2018 in the states that donald trump won. all of them very specifically backed up the principles that leader schumer just mentioned. first thing out of their mouth, we have to get this to the middle class. second, cannot get wealthy. when they brought up the president said we do not want to go to people like myself and it would not clobber social security and medicare. forpoint he has stressed the very ones that the finance democrats in states that the president won, emphasized when they were with the president. >> you have an interesting dynamic. in the house you have a lot of republicans from suburban well-off districts who are going to get clobbered by
do not increase the deficit. holetax bill lows a huge to the deficit. and third, work with us, do not use reconciliation. even the three who did not vote for it -- it did not sign our letter agree with those three principles. this is very far -- just listen to what they say about it. >> i went with the five democrats to the white house about 10 days ago. they were the five democrats up for election in 2018 in the states that donald trump won. all of them very specifically backed up the...
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Apr 25, 2010
04/10
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the other way you really get a handle on the huge deficit is by progressively reducing overspending. if you do not do that, you will not get there. >> including over entitlement? >> that is the tough one, but it cannot be ignored, so we must be willing to do that together, democrats and republicans. >> it sounds like there will be some spending cuts, so how are you going to explain this to the people back home that there are certain programs and now we're not going to be able to afford them? >> it is pretty obvious. in recent months, we have escalated our spending levels in every category of government at such a rate that nobody can imagine how we got there, and the public does not know it because the pipelines are stuck with money, but we can reduce that pattern of increased growth very effectively without the political fall back that people are always concerned about, so you start there. cut back on the increases that have been so radical and the last 18 months. >> is that going to be announced? there is a huge gap between what we take in and what we spend. do you think there will
the other way you really get a handle on the huge deficit is by progressively reducing overspending. if you do not do that, you will not get there. >> including over entitlement? >> that is the tough one, but it cannot be ignored, so we must be willing to do that together, democrats and republicans. >> it sounds like there will be some spending cuts, so how are you going to explain this to the people back home that there are certain programs and now we're not going to be able...
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Aug 2, 2011
08/11
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they did not cause this deficit. it is not their responsibility to fix it. we can meet our fiscal challenges in a way that is fair, within our constitutional rights, and with all americans doing their part. i will vote against the bill whenever it comes to the floor. >> i think my colleagues have basically articulated the feelings of the progressive in this country. i would like to thank them for their leadership in the progressive caucus for the work they have done consistently in leading the progressive caucus. i cannot understand how we can walk out of a deal. all we have our cuts. this is a very fragile economy. it is fragile in some ways. the unemployment rates are astronomical. 9.2% in this country. in the minority communities, sometimes the unemployment rates are 40%. attitude that the loss of wealth by latinos and with african americans, over 60% loss. we need to be talking about stimulating the economy. think about this. we are about to take federal money out of the economy to stimulate the economy. that is no way to deal with the predicament we are
they did not cause this deficit. it is not their responsibility to fix it. we can meet our fiscal challenges in a way that is fair, within our constitutional rights, and with all americans doing their part. i will vote against the bill whenever it comes to the floor. >> i think my colleagues have basically articulated the feelings of the progressive in this country. i would like to thank them for their leadership in the progressive caucus for the work they have done consistently in...
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Oct 26, 2017
10/17
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eye 17
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tax cuts to the rich, they can increase the deficit. health which has its own benefit to our economy has to be paid for by other children's healt. hby not only that, but undermining medicare and the health of america's families. where was this money come from? that is really the point. -- we talking >> on jfk, on all your years on the intelligence committee and in the briefings you get nowadays, have you ever had a cia director fbi director come to you and say they are concerned about what may be released? >> no. we did not even talk about it. in the beginning, we were talking about the force protection, using intelligence or force protection, addressing overarching issues like money laundering that have an impact groups, weng certain were concerned about fighting .errorism i have never heard anybody come in and say -- we never talked about it. we shall see. thisy event, stay tuned on . this is a moment of truth in america. we are going down a path that says the only thing that will come your way is what might trickle down from tax brea
tax cuts to the rich, they can increase the deficit. health which has its own benefit to our economy has to be paid for by other children's healt. hby not only that, but undermining medicare and the health of america's families. where was this money come from? that is really the point. -- we talking >> on jfk, on all your years on the intelligence committee and in the briefings you get nowadays, have you ever had a cia director fbi director come to you and say they are concerned about...
SFGTV2: San Francisco Government Television
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May 9, 2012
05/12
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that would increase the deficit factor to about 22%. the deficit factor represents the percentage of each dollar of general purpose finding that k- 12 schools should be receiving that we will not receive. 78 cents on every dollar of general purpose funding is what we could stand to receive under the governor's proposed budget. that is assuming that the tax is passed. the difference between a fully funded cola and a zero funded colette is about $8 million a year. -- cola is about $8 million a year. even if the tax initiative passes, are projected deficit would grow under the governor's proposal. if the taxes are not approved, proposition 98 funding would be significantly reduced. this next slide, this is a little bit to -- this is a three-slide presentation. this sort of go together. we have a version of the same information on the school districts website. if anyone wants to look at the version on the website. and i will walk through this step by step. i think it does bear some clarification. i believe there are -- there is a fair amoun
that would increase the deficit factor to about 22%. the deficit factor represents the percentage of each dollar of general purpose finding that k- 12 schools should be receiving that we will not receive. 78 cents on every dollar of general purpose funding is what we could stand to receive under the governor's proposed budget. that is assuming that the tax is passed. the difference between a fully funded cola and a zero funded colette is about $8 million a year. -- cola is about $8 million a...
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Oct 27, 2017
10/17
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eye 20
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when president bush left office, the deficit was $1.4 trillion. about ane talking enormous amount of money. the national debt increased by an enormous amount, in terms of the deficit, as opposed to the debt which increased by trillions of dollars. then we go to president obama, who again reverses that and now we come to president trump. , the budget, as we saw the other day, 80% of the advantage goes to the top 1%. who pays? the middle class. the fact that they say that it is a middle-class tax cut is not true, it is wrong. when they come forth with their tax bill, you will see it more clearly. what the republicans did today an open pass, to this assault. g ripoff, a shakedown, a lootin of the middle class. arnold 20 wrote about the history of civilization -- arnold tornby, and he talked about the societies and governments who were there with creative leadership, where people could thrive and succeed versus exploiters -- exploitative situations, where the governments were there for the rich and powerful. that is not a good thing for a country. and
when president bush left office, the deficit was $1.4 trillion. about ane talking enormous amount of money. the national debt increased by an enormous amount, in terms of the deficit, as opposed to the debt which increased by trillions of dollars. then we go to president obama, who again reverses that and now we come to president trump. , the budget, as we saw the other day, 80% of the advantage goes to the top 1%. who pays? the middle class. the fact that they say that it is a middle-class tax...
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362
Nov 2, 2017
11/17
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CSPAN2
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eye 362
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the senate you have a lot of deficits and in the house the hard right used to be a deficit hawk when there is a spending program and it now seems to given that up although pete pederson today said this would be horrible for the deficit. so it's a different dynamic at a dynamic that makes it harder to pass the bill. you have to win over the house and it makes it harder to win over in the senate. thank you everybody. [inaudible conversations] [inaudible conversations] during a meeting with house republicans and in the white house cabinet room today president trump held the two postcard sized tax mark-ups saying tax forms of this size will simplify life for many americans. c most americans will be able to file taxes on a single sheet of paper. what do you think about that? [laughter] >> great job. thank you. i didn't know i was going to be given a postcard. [laughter] [applause] >> beautiful, thank you. we think we are going to be able to do that and if we have it the way it is now at this moment is going to make life very simple. the only people that aren't going to like this are h&r b
the senate you have a lot of deficits and in the house the hard right used to be a deficit hawk when there is a spending program and it now seems to given that up although pete pederson today said this would be horrible for the deficit. so it's a different dynamic at a dynamic that makes it harder to pass the bill. you have to win over the house and it makes it harder to win over in the senate. thank you everybody. [inaudible conversations] [inaudible conversations] during a meeting with house...
SFGTV: San Francisco Government Television
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May 3, 2011
05/11
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some of the areas we have looked at our targeted to close the deficit. again, this is just a proposal. we have some additional revenue from the arra pose a fiscal stimulus money that we can utilize in the current fiscal year to the tune of a little over $200,000 that would help cushion some of the deficit that we are facing. in 2011-2012, we look forward to receiving some rainy day funds from the city's rainy day reserve. we are proposing $5.5 million of cuts to essential services. and an additional $5.3 million cut to school sites. $2 million of cuts to -- i'm sorry. question -- when you're talking about cuts to school sites, can you give me an idea -- what with these cuts manifest? what does it look like? >> first of all, these $5.3 million cuts are already incorporated in the allocations. the reduced allocations under scenario b that we gave, that the schools received in order to do their budgets include this $5.3 million deduction from the prior year levels. this could be as schools are sending in their budgets and we are reviewing them, these could
some of the areas we have looked at our targeted to close the deficit. again, this is just a proposal. we have some additional revenue from the arra pose a fiscal stimulus money that we can utilize in the current fiscal year to the tune of a little over $200,000 that would help cushion some of the deficit that we are facing. in 2011-2012, we look forward to receiving some rainy day funds from the city's rainy day reserve. we are proposing $5.5 million of cuts to essential services. and an...
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Apr 17, 2018
04/18
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eye 65
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increased the deficit. is that correct? >> that's right. >> so really both sides of the aisle only three people on the committee that hasn't been involved in increasing deficit over the last 15 months are senator harris, sanders, and senator merkley. and i don't think it's because they are fiscal conservatives. i think it's because they didn't agree with priorities in these bills. but they are the only three that haven't participated in increasing the deficit. we all have participated. i voted against the spending. some of you voted against the tax bill. but let's face it, both sides of the aisle are totally remiss as it relates to deficits. and i mean i listen to this partisan bickering over blaming people. it's ridiculous lu. we are absolutely not capable of dealing with our country's finances. and of course a big part of it the american people don't really want it to be controlled. i want to get back to you on the numbers. >> sure. >> and i know mime time is up. the thing confusing to me. i notice that,
increased the deficit. is that correct? >> that's right. >> so really both sides of the aisle only three people on the committee that hasn't been involved in increasing deficit over the last 15 months are senator harris, sanders, and senator merkley. and i don't think it's because they are fiscal conservatives. i think it's because they didn't agree with priorities in these bills. but they are the only three that haven't participated in increasing the deficit. we all have...
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Mar 27, 2017
03/17
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do trade deficits matter? this is an important question because america's trade deficit in goods is large and persistent. $734 billion in 2016 and on the order of about $2 billion every single day. communist china accounts for half of that deficit in goods, 47% to be exact. capitalist gero and japan each run annual surpluses with america of over $60 billion which accounts cumulatively for another 27% of that deficit. if we measure our by lateral deficits using the volume of our two-way trade, ireland and vietnam curvee vietnam actually outstrip china, while malaysia, thailand and italy onto faren't far behind. other countries which run significant deficits include india, south korea, taiwan, france and switzerland. what all this adds up to is a group of 16 countries that account for the lion's share of our deficit problem. if, of course, you see these by lateral trade deficits as a problem, that's the question for us. do trade deficits matter. more specifically, do america's large and persistent trade deficits
do trade deficits matter? this is an important question because america's trade deficit in goods is large and persistent. $734 billion in 2016 and on the order of about $2 billion every single day. communist china accounts for half of that deficit in goods, 47% to be exact. capitalist gero and japan each run annual surpluses with america of over $60 billion which accounts cumulatively for another 27% of that deficit. if we measure our by lateral deficits using the volume of our two-way trade,...
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Jan 13, 2013
01/13
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we have no sustainable deficit. you say on the order of 3% of gdp, we make tough choices to identify more than a trillion dollars in savings. two-thirds from spending reductions. where does the other third come from? as i understand it, it is from tax increases, is it not? >> i'm happy to answer all questions. >> just the last one. >> the net savings come from a lot of provisions but a lot of it comes from the provision that would pay for the alternative minimum tax. that would reduce -- >> a significant portion does come from tax increases. >> a third. >> you have a statement about federal-billion pay freeze. i find this to be terribly disingenuous. when barack obama took office to now, we have 145,000 additional federal workers. to suggest pay has been frozen is not an accurate statement. their increases and bonuses and others, we've dramatically increased the federal payroll. the budget being proposed, when you say pay freeze, does that mean expenditures on payroll will go up or stay the same? >> it means people
we have no sustainable deficit. you say on the order of 3% of gdp, we make tough choices to identify more than a trillion dollars in savings. two-thirds from spending reductions. where does the other third come from? as i understand it, it is from tax increases, is it not? >> i'm happy to answer all questions. >> just the last one. >> the net savings come from a lot of provisions but a lot of it comes from the provision that would pay for the alternative minimum tax. that...
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104
Apr 25, 2010
04/10
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eye 104
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and in the meantime, the deficit continues to explode. i think the commission -- input from a commission might be interesting, but it's absolutely a mechanism for legislators and politicians to avoid their responsibility. it's our job, that's why we're elected, to deal with the people's treasury and only spend their money after careful thought to have a commission take over that responsibility in part in terms of futures is irresponsible in my judgment but most importantly it's a political tool rather than a real tool. >> which begs this question. and sort of follow what carry is saying. republicans out aff 177 house seats, democrats i think it's 254, how in the world do you make yourself heard in this process? how do you have any influence in this process? >> as an appropriator, i would have to say in the last two fiscal year cycles we had almost no input. there were discussions this actually occurred, there were discussions at a very high staff level in which subcommittee staff people on the majority side were told don't talk to your re
and in the meantime, the deficit continues to explode. i think the commission -- input from a commission might be interesting, but it's absolutely a mechanism for legislators and politicians to avoid their responsibility. it's our job, that's why we're elected, to deal with the people's treasury and only spend their money after careful thought to have a commission take over that responsibility in part in terms of futures is irresponsible in my judgment but most importantly it's a political tool...
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130
Feb 18, 2012
02/12
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i understand, and it is a challenge to have the kind of deficit this hangs over our head. but there is going to be considerable sums much -- sums of money brought in, i believe with the voluntary auction. that is going to be a very good downpayment relative to the committee that i'm on. i wish all committees in congress would produce something like i'm producing relative to spectrum. i think one view is the long view. that america really takes a stand that beer going to be number one in everything. and then there is the short-term view that you mentioned. i prefer the former. >> one side of that, of course, is voluntary incentive options here. and one thing we have seen played out is what conditions should be on the s.b.c. with respect to selling those air waves to companies. we don't know what the final plan is going to look like, and it might be out by the time we air, but is there anything that can be done that can concern telecom companies that may not hand options appropriately? i know you are saying the agency is handling it the way they have for years now. is there
i understand, and it is a challenge to have the kind of deficit this hangs over our head. but there is going to be considerable sums much -- sums of money brought in, i believe with the voluntary auction. that is going to be a very good downpayment relative to the committee that i'm on. i wish all committees in congress would produce something like i'm producing relative to spectrum. i think one view is the long view. that america really takes a stand that beer going to be number one in...
SFGTV: San Francisco Government Television
0
0.0
Apr 16, 2023
04/23
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million dollars deficit with the next year 354.4 million dollars deficit. and so with the slide 7, and that does mean triggering we are allowed to tap in the 380.3 million? >> no. the economic stabilization reserves they are looking only at the ref now line of the picture. dp this ref now is increasing not very much but getting slowly larger yearly. it is 10, 11, 12 not big but it is going pump approximate because of that we are not eligible it with draw we with draw if it guess 10, 9, 8 on ref now side. reserve rowels inspect with expenditures. >> right. what you are saying is even though we -- even in all, all categories of the tax ref now that is facing deficits the fact we are in this case sales and hotel tax increasing, and we see positive like in black not red. you know not positive gaining we are not allowed tap in the existing economic stabilization reserve of 380.3 million however that the rest of it about the 360 million we seat list of like state emergency grant they only have their own trigering suspensions various. each one of them. we are that
million dollars deficit with the next year 354.4 million dollars deficit. and so with the slide 7, and that does mean triggering we are allowed to tap in the 380.3 million? >> no. the economic stabilization reserves they are looking only at the ref now line of the picture. dp this ref now is increasing not very much but getting slowly larger yearly. it is 10, 11, 12 not big but it is going pump approximate because of that we are not eligible it with draw we with draw if it guess 10, 9, 8...
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75
Nov 30, 2018
11/18
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eye 75
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the deficit is coming down. it's a massive deficit between japan and the united states and t's coming down. > [speaking foreign language] president trump: japan is buying large amounts of our fighter jets, f-35's and others, we appreciate it very much, they're working with me on trying to balance our deficit because we do have a deficit that's pretty substantial with japan, we hope we'll be balancing it very quickly. > [speaking foreign language] president trump: just in finish, we're two countries who are doing well in many different ways. our military working together, having to do with north korea and other factors really has been very strong, our partnership has been quite extraordinary and we will be together for a long time. i think probably there's no time in our history where we're closer an i'll be going to a tremendous event in japan, i was , by your be invited emperor. language] foreign >> once again from the outset i'd like to congratulate you on your historic vickity in the mid-term elections in the
the deficit is coming down. it's a massive deficit between japan and the united states and t's coming down. > [speaking foreign language] president trump: japan is buying large amounts of our fighter jets, f-35's and others, we appreciate it very much, they're working with me on trying to balance our deficit because we do have a deficit that's pretty substantial with japan, we hope we'll be balancing it very quickly. > [speaking foreign language] president trump: just in finish, we're two...
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Jun 22, 2012
06/12
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eye 140
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never face a deficit. you use the right word, it's an actuaryial deficit. it sees the difference between what we're collecting and what we hope to pay out and there is a deficit there and that's what we have to tackle sooner than ever. can the social security system ever run deficits by law? it can never run deficits and the cold, hard fact is that we have to tell americans in 2033, guess what? all of a sudden your benefit went from 100% to 75% which would be cruel and that's why we have to deal with this, but never has social security run a deficit and never had it until we in congress change the law. with that, i would yield back. >> you want to make a final comment on that? >> i certainly don't want to be construed as implied that the bond and the trust fund is not real assets and as my testimony indicate, i think the they're backed by the full faith and credit and when you get the controversies about the trust fund and it's not so much about real assets between social security as to who's paying for th
never face a deficit. you use the right word, it's an actuaryial deficit. it sees the difference between what we're collecting and what we hope to pay out and there is a deficit there and that's what we have to tackle sooner than ever. can the social security system ever run deficits by law? it can never run deficits and the cold, hard fact is that we have to tell americans in 2033, guess what? all of a sudden your benefit went from 100% to 75% which would be cruel and that's why we have to...
SFGTV2: San Francisco Government Television
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99
Jul 17, 2010
07/10
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SFGTV2
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eye 99
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that is this year's deficit. $16.9 million is this year's deficit. they also paid out $12.2 million to the police department. i have seen police officers checking people for transfers on muni. why not contract this out to security guards or young people? people from different communities to monitor policy. you do not have to have uniform, armed police officers. what we should do is have an accomplice with an independent audit by may 1. then we will see how management can save money, including salaries. there are managers to make more than $150,000 per year. how many people in this room make that much? does anyone make that much? how is muni management supporting that? why is that? it is not necessary and a waste of public funds. there's a legal and fiduciary duty that is part of a problem. thank you. >> some of the issues raised, overcrowding and cleanliness, that is something that is important, given that it is one of the busiest lines in the city. cleanliness and cleaning, that is a challenge with the budget. the audit was approved by the board of
that is this year's deficit. $16.9 million is this year's deficit. they also paid out $12.2 million to the police department. i have seen police officers checking people for transfers on muni. why not contract this out to security guards or young people? people from different communities to monitor policy. you do not have to have uniform, armed police officers. what we should do is have an accomplice with an independent audit by may 1. then we will see how management can save money, including...
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Oct 26, 2017
10/17
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eye 23
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the gop will use the deficit to justify devastating medicare and medicaid. the gop budget is the first taste of the cuts to children after adding tax breaks to the wealthy. it is hard to understand how they can ignore trillions added , for what purpose? tax cuts for the rich. democrats are fighting for a better deal. they want a bipartisan tax reform that puts the middle class first with a better deal, better pay, better future. this is deficit exploding, multitrillion dollar giveaway for the wealthiest, delivered on seniors, of children, and hard-working families. it is a dangerous plan, clear as day. we will begin with the budget. that,lain more about democrats on the budget committee. who better to make the judgments than mr. yarmouth? >> it is great to be here with what is ak about disheartening attempt by to raise taxes on middle-class america, give tax cut to the wealthy, and pay for them with cuts to people who need government assistance. the rules we met with , diane black and i, and offered some amendments. republicans are unable and unwilling to de
the gop will use the deficit to justify devastating medicare and medicaid. the gop budget is the first taste of the cuts to children after adding tax breaks to the wealthy. it is hard to understand how they can ignore trillions added , for what purpose? tax cuts for the rich. democrats are fighting for a better deal. they want a bipartisan tax reform that puts the middle class first with a better deal, better pay, better future. this is deficit exploding, multitrillion dollar giveaway for the...
SFGTV: San Francisco Government Television
26
26
Mar 11, 2018
03/18
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eye 26
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we've exhausted stablization money and we're in a deficit. i think it's really important that we understand the underlying dynamics as how we arrive at these figures year to year. we can't afford to hammer our members with big rate increases, you know, if -- because we've manage today build ours into a deficit situation for the two or three preceding years. that seems unfair also. so this is becoming more and more difficult i think in terms of finding that right balance. >> no. absolutely appreciate your commentary, and we will be engaging blue shield in that discussion even starting next week. >> okay. thanks. >> so commissioners, are you requesting that the fully insured increases for the past few years be included on their next presentation, too? >> i would like to know how those have been trending with blue shield for the last several years in the bay area for bay area employees. >> okay. noted. we will. >> are you agreeing to continue, still? >> so just to acliclimate you the rest of the report, the page eight is the total basis where we
we've exhausted stablization money and we're in a deficit. i think it's really important that we understand the underlying dynamics as how we arrive at these figures year to year. we can't afford to hammer our members with big rate increases, you know, if -- because we've manage today build ours into a deficit situation for the two or three preceding years. that seems unfair also. so this is becoming more and more difficult i think in terms of finding that right balance. >> no. absolutely...
123
123
Apr 3, 2010
04/10
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eye 123
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deficit projections, $132 billion will be added to the deficit this fiscal year. total by the end of the fiscal year will be $1.50 trillion or 10.3% of gdp. we will continue our discussion of that. if you want to get involved in our conversation, the numbers -- it and also send us a message via twitter or e-mail. our first call is from our line for democrats. caller: i think our problem, as a country, we have to recognize the fact that over the last 30 years or so, we would to a conservative economic philosophy. -- we went to conservative economic philosophy. it has been failing us. they say we should cut spending and not to anything about taxes. we have a business sector here who really has not been contributing their part to society for the past 30 years. i would like to see what their answers are to their to -- to my comments. host: if you are blaming future deficit on debt on the conservative economic philosophy, the increase in spending going forward is driven almost entirely by social security and medicare and medicaid. without those programs, the government
deficit projections, $132 billion will be added to the deficit this fiscal year. total by the end of the fiscal year will be $1.50 trillion or 10.3% of gdp. we will continue our discussion of that. if you want to get involved in our conversation, the numbers -- it and also send us a message via twitter or e-mail. our first call is from our line for democrats. caller: i think our problem, as a country, we have to recognize the fact that over the last 30 years or so, we would to a conservative...
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24
Aug 24, 2017
08/17
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eye 24
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deficits and debt do matter. it is not existential to the economy immediately, but it's a corrosive upon the economy. higher deficits and the debt loads rely on higher interest rates which means less business investment and consumer spending on a smaller economy in the long run. so no he is not right. loadeficits and the debt matter a lot. i think there is well-intentioned and well-meaning lawmakers in both the republican and democratic party. obviously politics plays a role in everything. particularly in the current environment. i think there are many republicans that believe the deficit and debt do matter. our will try to make sure fiscal situation is -- i think that's pretty bipartisan. guest: to give the full -- host: mitch mcconnell's statement on monday in louisville kentucky an event in louisville, the quote from him. there is zero chance -- no chance we will not raise the debt ceiling. to default.ot going we will get the job done. the secretary of the treasury at that event saying we will get the debt cei
deficits and debt do matter. it is not existential to the economy immediately, but it's a corrosive upon the economy. higher deficits and the debt loads rely on higher interest rates which means less business investment and consumer spending on a smaller economy in the long run. so no he is not right. loadeficits and the debt matter a lot. i think there is well-intentioned and well-meaning lawmakers in both the republican and democratic party. obviously politics plays a role in everything....
SFGTV2: San Francisco Government Television
46
46
Jun 5, 2013
06/13
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SFGTV2
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eye 46
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and so the next two years, we have are facing a deficit and kate will tell us why that deficit is there, but we begin by saying that we have got $123 million budget deficit for next fiscal year, but the second year is a little larger, about $256 million budget deficit and put it in context. as past parents of this great city, we used to have hundreds and hundreds of more deficits that have to deal with when the economy was bad. now it's recovering. and i have to thank the public, the business groups, the non-profits and everybody that has been sacrificing to help us balance this budget. because it's their sacrifices that got us through these very hard years. so it sounds like 123 and 256 are not great numbers. they are still serious deficits, but i think we have a spirit, where the parents, the legislative body and the executive branch are working closely together to make that gap closer. we have that, and i want to say, the principles that are guiding me in setting this budget, i want a sound economic budget. i want the residents and visitors in this city to feel that they have a safe
and so the next two years, we have are facing a deficit and kate will tell us why that deficit is there, but we begin by saying that we have got $123 million budget deficit for next fiscal year, but the second year is a little larger, about $256 million budget deficit and put it in context. as past parents of this great city, we used to have hundreds and hundreds of more deficits that have to deal with when the economy was bad. now it's recovering. and i have to thank the public, the business...